REDIRECTING MOMENTUM AMIDST GEOPOLITICAL UNCERTAINTY

The San Giorgio Group's 11th meeting focused on redirecting climate finance strategies amidst geopolitical uncertainty. Key recommendations include empowering National Development Banks (NDBs) to leverage domestic capital, reforming Multilateral Development Banks (MDBs) to prioritize private capital mobilization over direct project finance, and scaling adaptation finance through better insurance coordination and risk reduction. The group emphasizes shifting the climate narrative from 'doom and gloom' to one of economic opportunity and 'kitchen-table issues' to better engage policymakers and citizens. A concrete 2025 agenda includes launching 10-15 additional country platforms, operationalizing the Baku-to-Belem Roadmap for the New Collective Quantified Goal (NCQG), and creating a network of insurance regulators for climate.

• National Development Banks (NDBs) and Public Development Banks (PDBs) are critical for aligning international capital with domestic priorities and mobilizing local markets, particularly for renewable energy deployment in countries like Pakistan, Viet Nam, and the Philippines.
• Multilateral Development Banks (MDBs) and bilateral Development Finance Institutions (DFIs) must pivot from direct project finance toward becoming 'capital mobilizers' by prioritizing catalytic and wholesale capital to attract private investment.
• There is an urgent need to scale adaptation finance, which requires a combination of improved physical climate risk data, a more proactive insurance industry, and the use of philanthropy to support public investments.
• The climate movement must abandon 'doom and gloom' narratives in favor of an aspirational agenda focused on local benefits such as clean air, good jobs, and affordable energy to better resonate with voters and policymakers.
• Despite some financial institutions retreating from fossil fuel exit deadlines, structural market shifts continue, with over 90% of new power generation capacity built in 2024 being renewable.
• The 2025 agenda includes specific goals to operationalize the Baku-to-Belem Roadmap to achieve a USD 300 billion floor and a USD 1.3 trillion goal for the New Collective Quantified Goal (NCQG).

APA

Climate Policy Initiative (2025). REDIRECTING MOMENTUM AMIDST GEOPOLITICAL UNCERTAINTY. https://www.climatepolicyinitiative.org/wp-content/uploads/2025/04/SGG11-l-Summary.pdf

Chicago

Climate Policy Initiative. REDIRECTING MOMENTUM AMIDST GEOPOLITICAL UNCERTAINTY. 2025. https://www.climatepolicyinitiative.org/wp-content/uploads/2025/04/SGG11-l-Summary.pdf.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=REDIRECTING MOMENTUM AMIDST GEOPOLITICAL UNCERTAINTY |date=2025 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2025/04/SGG11-l-Summary.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2025redirecting, author = {{Climate Policy Initiative}}, title = {{REDIRECTING MOMENTUM AMIDST GEOPOLITICAL UNCERTAINTY}}, institution = {Climate Policy Initiative}, year = {2025}, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2025/04/SGG11-l-Summary.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }